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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 411.49+0.6%Jan 8 4:00 PM EST
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To: Cogito Ergo Sum who wrote (62884)4/19/2010 6:52:25 AM
From: Haim R. Branisteanu10 Recommendations  Read Replies (3) of 219165
 
The long term damage that WS inflicted to the US reputation abroad is well beyond every one imagination. Obama administration standing idle and even covering up for WS fraudulent conduct makes only things worse.

We in the US do not grasp the anger of the average citizen overseas toward the US and the failure of the current administration to take the proper steps and punish those that took advantage of millions of savers worldwide with the so called "structured investment" scams of which only Lehman Bros, inflicted close to 300 BILLION in losses to retail investors.

Hundreds of billions more where lost by misleading other retail investors with financial scam products issued by other US firms.

Now it is a shame to arrive with an US passport in Europe they do not smile to you as before not even tell you hello as before!!

Long term the US is going to lose tremendous good will due those losses by retail investors not to mention all the small municipalities worldwide which were duped buy fast talking US bond salesman’s

The financial damage inflicted by WS equals to damage of war and the arrogance of the US Secretary of the Treasury and other officials not to mention the talking heads of CNBC are inflicting more damage – the US will end up hated all over the world because of the greed and enrichment of the few and the lack of social justice and plunder of people savings all over.

To be more specific from an tax point of view the US treasury syphoned income taxes revenues from the Germany treasury to the US treasury via the present GS scandal (the ABACUS CDO) A German entity lost $1 billion and needed German taxpayer money to survive and the US treasury collected the taxes on the gains of GS and Paulson & Co from the same transaction.

If anyone thinks that this game of plunder is not obvious to all around the world then they are badly mistaken. Only wonder how many US taxpayer would be willing to pay the tab in taxes to an EU country so their citizen should enjoy a life of extravagance? Shame on this administration for engaging and justifying the plunder of other nation’s tax money.

In the long run all this will end up in costing US citizen life, as the world is not kind to those that support thieves and swindler to enrich themselves.
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